Duke Energy Co. (NYSE:DUK) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC lowered its position in Duke Energy Co. (NYSE:DUKGet Rating) by 25.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,521 shares of the utilities provider’s stock after selling 2,585 shares during the quarter. Connectus Wealth LLC’s holdings in Duke Energy were worth $792,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Carl Stuart Investment Advisor Inc. acquired a new position in Duke Energy in the 1st quarter worth $33,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Duke Energy in the 1st quarter worth $33,000. Masso Torrence Wealth Management Inc. acquired a new position in Duke Energy in the 4th quarter worth $33,000. Quent Capital LLC acquired a new position in Duke Energy in the 4th quarter worth $35,000. Finally, DeDora Capital Inc. acquired a new stake in shares of Duke Energy in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 62.35% of the company’s stock.

Insider Activity

In other news, CFO Steven K. Young sold 415 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $107.75, for a total value of $44,716.25. Following the completion of the transaction, the chief financial officer now directly owns 114,072 shares in the company, valued at $12,291,258. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,245 shares of company stock worth $137,021 over the last three months. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of recent analyst reports. KeyCorp cut their target price on shares of Duke Energy from $121.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Barclays cut their target price on shares of Duke Energy from $119.00 to $110.00 in a research note on Monday, July 18th. Morgan Stanley upped their target price on shares of Duke Energy from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, July 21st. Credit Suisse Group lowered shares of Duke Energy from an “outperform” rating to a “neutral” rating and upped their target price for the company from $112.00 to $114.00 in a research note on Friday. Finally, UBS Group downgraded shares of Duke Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $122.00 to $112.00 in a research report on Thursday, June 30th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $111.91.

Duke Energy Price Performance

NYSE DUK opened at $109.16 on Friday. Duke Energy Co. has a 52 week low of $95.48 and a 52 week high of $116.33. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 1.27. The stock has a market cap of $84.04 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 3.35 and a beta of 0.34. The company has a 50-day moving average price of $106.71 and a two-hundred day moving average price of $107.24.

Duke Energy (NYSE:DUKGet Rating) last posted its earnings results on Thursday, August 4th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $5.79 billion. During the same quarter last year, the company posted $1.15 EPS. Duke Energy’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts forecast that Duke Energy Co. will post 5.45 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 12th will be issued a $1.005 dividend. The ex-dividend date is Thursday, August 11th. This is a boost from Duke Energy’s previous quarterly dividend of $0.99. This represents a $4.02 annualized dividend and a dividend yield of 3.68%. Duke Energy’s dividend payout ratio (DPR) is 79.76%.

Duke Energy Profile

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Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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